Older millennials, adults aged 35 to 44, had debt-to-disposable income ratios around 250 per cent in 2019, while Freestone noted that metric was roughly 150 per cent for the same age group in 1999.
Can confirm we’re sitting around 250% but this is after exercising significant restraint to not take on as much mortgage as the banks would have given us. Everyone I know who bought over the last couple of years went all out and I can’t imagine them being any lower than 300-350%.
Huh. I thought attending grade 9 was legally mandatory these days.
No doubt you are way better off financially having entered the workforce full-time at 14. Compound interest is no joke. Enjoy the car it has afforded you!